Economic resources are
A) all the items that people would purchase if they had limited wants.
B) all the unlimited items that people would purchase with limited income.
C) items of value that are used to make other things that satisfy people's wants.
D) the total planned expenditures throughout the nation.
C
You might also like to view...
Which of the following is a public good?
a. Air traffic control. b. National defense. c. Clean air. d. All of these.
Economists generally use gross domestic product to measure a nation's total output because it
a. equals the sales value of all transactions conducted during a period and, thus, can be easily calculated. b. is the best available measure of the market value of all final goods and services produced during a period. c. is unaffected by changes in the prices of products over time. d. is a reliable indicator of the social progress of a nation over time.